Széchenyi Support Bridging Loan

Your company can have quicker access to EU funds with a Széchenyi Support Bridging Loan. Use this state subsidised loan to launch an investment projected under favourable conditions and buy the property, machinery or other equipment you need before the actual EU support is available.

Who is the Széchenyi Support Bridging Loan for?

Sole entrepreneurs, single person companies, business associations and cooperatives, as defined in the Act on small and medium-sized enterprises (currently Act XXXIV of 2004), providing that they satisfy the terms and conditions of the loan.

What can this loan be used for?

The loan may only be used to finance receivables from support gained in support schemes related to the Széchenyi support bridging loan, specified by the participants and disclosed on the website of KAVOSZ.

You can use the loan only to settle expenses that are also eligible when the support is drawn down; you need to present the original or a copy of the invoice or accounting documents with the same power of proof and satisfy the other disbursement requirements to draw down the loan.

The loan may also be used to finance VAT if the client is not eligible for reclaiming VAT (in such cases the gross expenses may be settled).

Why is a Széchenyi Support Bridging Loan advantageous for your business?

It provides you a long-term support bridging loan with a favourable interest rate and with a state subsidy.

You can use the support granted to you before it is actually available to reduce the financing burden of your business.

In line with the rules of the granted support, the loan may be used to purchase, construct and develop real estate or to purchase new and second-hand machinery or fixed assets, as well as current assets relating to your investment project.

Financing may also be taken after the start of the investment project, provided that it is permitted according to the rules of the support to be refinanced.

Own funds: to apply for the loan the applicant must have own funds equivalent at least to 20% of the requested support, free of any loan or leasing, and must satisfy all the requirements of the call for applications pertaining to own funds.

Repayment: the principal of the loan will be repayed from the disbursed support. The Client must add a provision to the concluded Support Contract stating that the Support Providing Authority shall transfer the support amount only and exclusively into the collateral account designated by the bank.

Management fee: 0.8% p.a, to be calculated as interest.

Disbursement fee: fixed HUF 15,000 per drawdown.

Contracting fee: one off 1%

Loan approval fee: one off 0.5%

Collateral:

The loan must be repaid from the support (by signing a separate assignment contract).

The subject matter of your project but, apart from that, any other moveable property or real property may also be offered to the bank.

Please contact our staff at the UniCredit branchesfor personal credit advice. Our advisors will inform you on the currently effective terms and conditions and the requirements to apply.

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Related materials

This information does not constitute a contractual offer. The detailed conditions are included in the Bank's currently effective 'List of Conditions of the Széchenyi Card Program for Small Business Clients’. The other conditions are set out in the individual contracts and in the Bank's General Terms of Business. The Bank reserves the right to unilaterally amend the conditions and to grant a loan based on application subject to its own approval process.

1 If a client has any product falling within the scope of the Széchenyi Card Program that is active or is being assessed simultaneously, their total contracted and requested amount, including the application in progress, may not exceed HUF 150 million.